Bharti Global To Acquire 24.5 Per Cent Stake In BT Group From Altice UK

Bharti Televentures UK will acquire a 9.99 per cent stake in BT Group, with the remaining 14.51 per cent set to be acquired following regulatory approvals

Sunil Bharti Mittal, Chairman of Bharti Enterprises, highlighted the long-standing relationship between Bharti and BT, which dates back over two decades.

Source : PTI

Bharti Global, the international investment arm of Bharti Enterprises, has announced its intention to acquire a 24.5 per cent stake in the BT Group from Altice UK. The transaction, expected to be a significant move in the telecom sector, will be carried out through Bharti Televentures UK, a wholly-owned subsidiary of Bharti Global.

The acquisition will occur in two phases, according to the official release. Initially, Bharti Televentures UK will acquire a 9.99 per cent stake in BT Group, with the remaining 14.51 per cent set to be acquired following regulatory approvals. Although the financial terms of the deal were not disclosed, industry experts estimate the transaction could be valued at approximately $4 billion, based on BT's market capitalisation of around $15 billion.

Indian High Commissioner to the UK, Vikram Doraiswami also tweeted the development. In hi X handle Doraiswami said, "Delighted Bharti Global of India is investing in 24.5 per cent of the shares of UK's BT Group. This will support BT's plans to build fibre, roll out 5G and develop services..."

Indian High Commissioner to the UK, Vikram Doraiswami tweets, "Delighted Bharti Global of India is investing in 24.5% of the shares of UK's BT Group. This will support BT's plans to build fibre, roll out 5G and develop services... pic.twitter.com/jPCeiNoAKb

— ANI (@ANI) August 12, 2024

The strategic investment is expected to enhance collaboration between the UK and India in advanced telecom technologies, including AI, 5G R&D, and core engineering. Bharti Enterprises, with a strong presence in telecom, digital infrastructure, and space communications, views this partnership as an opportunity to leverage synergies and drive innovation in both markets.

Sunil Bharti Mittal, Chairman of Bharti Enterprises, highlighted the long-standing relationship between Bharti and BT, which dates back over two decades. "This marks a significant milestone in Bharti Group's history as we invest in BT, an iconic British company," Mittal said.

Bharti's move to invest in BT Group reinforces the deepening ties between the two telecom giants and sets the stage for future collaborations in cutting-edge technologies.